Pakistan Stock Exchange (PSX) Weekly Analysis 15 September, 2019

BUY recommendations are:  ABL, ACPL, AKBL, APL, ASTL, BAHL, BAFL, BOP, DGKC, EFERT, EFOODS, ENGRO, EPCL, FATIMA, FFBL, FCCL, FFBL, FFC, FML, GWLC, HBL, HMB, HUBCO, INDU, KAPCO, KOHC, LOTCHEM, LUCK, MARI, MCB, MEBL, MLCF, MTL, NBP, NCL, NCPL, NML, NPL, OGDC, PAEL, POL, PPL, PSMC, PSO, SNGP, and UBL.

Top gainers of last week were:  PPL, OGDC, LUCK, UBL, KAPCO, POL, BAFL and FFC.

Top losers of last week were: HASCOL, MLCF, GWLC, PIOC, and INDU.

Top Volume Leaders of last week:  MLCF, WTL, OGDC, HUBC, and UNITY.

The Pakistan Stock Exchange (PSX) market index was dominated by bulls, for the second consecutive week, the index provided positive weekly return of 3.3%, taking the return for two weeks to 6.1%. KSE-100 index closed at 31,481 points by gaining 104 points or 3.33 percent. While KSE-30 index reached on 14,834 by gaining 531 points or 3.72 %.

According to experts of http://www.karachistockexchange.com, following news have played vital role in Karachi Stock Market index movement:


  • The week kicked off on a positive note at the stock market on Wednesday as the bourse remained closed for the first two days of the week on account of Ashura
  • The index extended gains from the preceding session and surged on positive expectations from the Financial Action Task Force (FATF) meeting in Bangkok
  • Central bank is expected to hold its key policy rate steady next week to assess the effects of a rate hike in July, but analysts believe a rate cut is now possible by the end of the year as measures to curtail twin deficits faltered economic growth
  • “We expect the SBP (State Bank of Pakistan) to hold the policy rate at 13.25 percent,” Bilal Khan, a senior economist at Standard Chartered Bank said. The SBP is scheduled to announce monetary policy for two months on Monday (tomorrow).
  • Saudi, Gulf stocks fall after attack on Aramco oil plants
  • Increasing global crude prices in anticipation of further output cuts by major oil producers boosted investor sentiment
  • Investor participation surged as average daily trading volumes went up 39% week-on-week to settle at 130 million shares, while average daily traded value jumped 70% to $38 million
  • In terms of sectors, positive contribution came from commercial banks (up 270 points), oil and gas exploration companies (213 points), fertiliser firms (196 points), power generation and distribution companies (95 points) and cement producers (86 points)
  • Foreign buying was recorded at $1.01 million during the week compared to net selling of $5.32 million last week. Buying was witnessed in exploration and production stocks ($1.4 million) and cement stocks ($1 million)
  • On the domestic front, major selling was reported by individuals ($4.8 million) and banks/DFIs ($4.5 million)
  • car sales plunging 41% in August
  • State Bank selling Rs467 billion worth of treasury bills with a fall in yields
  • Govt reassurance on progress for meeting IMF targets on performance and structural benchmarks for 1QFY20 helped improved investor sentiments (Avg. daily volume stood at 129.5mn vs. 93.0mn in the previous week)
  • Fertilizer companies increasing retail price following delay in implementation of GIDC Ordinance (Fertilizer sector: +3.0%WoW),
  • PkR200bn Power Sukuk stuck with SBP owing to delay in issuance of sovereign guarantees


Following are few BUY recommendations:

Allied Bank (ABL) – BUY 
Current Price: PKR 86.04
Target Price: PKR 118.50

Attock Cement Ltd. (ACPL) – BUY 
Current Price: PKR 86.56
Target Price: PKR 142.6

Askari Bank (AKBL) – BUY 
Current Price: PKR 18.73
Target Price: PKR 28.4

Attock Petroleum (APL) – BUY 
Current Price: PKR 275.43
Target Price: PKR 402.0

Amreli Steels Limited (ASTL) – BUY 
Current Price: PKR 18.92
Target Price: PKR 58.0

Bank Al-Habib (BAHL) – BUY 
Current Price: PKR 67.92
Target Price: PKR  97.64

Bank Al-Falah (BAFL) – BUY 
Current Price: PKR 40.53
Target Price: PKR  50.89

Bank of Punjab (BOP) – BUY 
Current Price: PKR 8.03
Target Price: PKR 18.3

D.G. Khan Cement Co. (DGKC) – BUY 
Current Price: PKR 47.81
Target Price: PKR 93.91

Engro Fertilizer (EFERT) – BUY 
Current Price: PKR 71.97
Target Price: PKR 77.10

Engro Foods (EFOODS) – BUY 
Current Price: PKR 47.85
Target Price: PKR 80.87

Engro Corporations (ENGRO) – BUY 
Current Price: PKR 259.69
Target Price: PKR 359.6

Engro Polymer & Chemical (EPCL) – BUY 
Current Price: PKR 24.51
Target Price: PKR 40.3

Fatima Fertilizer (FATIMA) – BUY 
Current Price: PKR 25.65
Target Price: PKR 35.75

Fauji Fertilizer Bin Qasim (FFBL) – BUY 
Current Price: PKR 15.94
Target Price: PKR 35.73

Fauji Fertilizer Company (FFC) – BUY 
Current Price: PKR 92.83
Target Price: PKR 115.77

Fauji Cement Company (FCCL) – BUY 
Current Price: PKR 13.40
Target Price: PKR 18.87

Feroze1888 Mills Ltd (FML) – BUY 
Current Price: PKR 98.43
Target Price: PKR 137.4

Gharibwal Cement Ltd (GWLC) – BUY 
Current Price: PKR 8.56
Target Price: PKR 25

Habib Bank Limited (HBL) – BUY 
Current Price: PKR 118.96
Target Price: PKR 140.47

Habib Metropolitan Bank (HMB) – BUY 
Current Price: PKR 29.99
Target Price: PKR 43.81

HUB Power Co. (HUBCO) – BUY 
Current Price: PKR 72.52
Target Price: PKR 101.05

Indus Motors (INDU) – BUY 
Current Price: PKR 982.64
Target Price: PKR 1,426.6

Kot Addu Power Co. (KAPCO) – BUY 
Current Price: PKR 30.96
Target Price: PKR 41.93

Kohat Cement Company (KOHC) – BUY 
Current Price: PKR 45.76
Target Price: PKR 111

Lotte Chemical Pak Ltd. (LOTCHEM) – BUY 
Current Price: PKR 14.82
Target Price: PKR 25.3

Lucky Cement (LUCK) – BUY 
Current Price: PKR 373.40
Target Price: PKR 581.40

Mari Petroleum Ltd. (MARI) – BUY 
Current Price: PKR   841.35
Target Price: PKR 1,502.6

Muslim Commercial Bank (MCB) – BUY 
Current Price: PKR   169.05
Target Price: PKR 224

Meezan Bank Limited (MEBL) – BUY 
Current Price: PKR 71.83
Target Price: PKR 115.80

Maple Leaf Cement (MLCF) – BUY 
Current Price: PKR 16.65
Target Price: PKR 22.90

Millat Tractors Limited (MTL) – BUY 
Current Price: PKR 699.56
Target Price: PKR 1,017

National Bank of Pakistan (NBP) – BUY 
Current Price: PKR 30.03
Target Price: PKR 54.3

Nishat Chunian Limited (NCL) – BUY 
Current Price: PKR 33.10
Target Price: PKR 55.00

Nishat Chunian Power Limited (NCPL) – BUY 
Current Price: PKR 16.34
Target Price: PKR 27.8

Nishat Mills (NML) – BUY 
Current Price: PKR 81.96
Target Price: PKR 158.00

Nishat Power Limited (NPL) – BUY 
Current Price: PKR 22.50
Target Price: PKR 32.5

Oil & Gas Development Co. (OGDC) – BUY 
Current Price: PKR 119.91
Target Price: PKR 190

Pak Elecktron Ltd (PAEL) – BUY 
Current Price: PKR 16.17
Target Price: PKR 18.30

Pakistan Oilfields (POL) – BUY 
Current Price: PKR 357.58
Target Price: PKR 400

Pakistan Petroleum (PPL) – BUY 
Current Price: PKR 123.33
Target Price: PKR 208

Pak Suzuki Motors (PSMC) – BUY 
Current Price: PKR 159.74
Target Price: PKR 275.08

Pakistan State Oil (PSO) – BUY 
Current Price: PKR 139.55
Target Price: PKR 298.00

Sui Northern Gas Pipeline (SNGP) – BUY 
Current Price: PKR 60.53
Target Price: PKR 78.4

United Bank Limited (UBL) – BUY 
Current Price: PKR 135.01
Target Price: PKR 165.50

Thank you very much for reading this article.

NOTE: The information posted in this blog /forum (http://www.karachistockexchange.com/) is based on current affairs & investors point of view. There may be discrepancy in the ground realities. The information given in this blog /forum (http://www.karachistockexchange.com/) is as of the date of this post and there can be no assurance that future results or events will be consistent with this information. This post is provided for assistance only and is not intended to be and must not alone be taken as the basis for any investment decision. The user assumes the entire risk of any use made of this information. Each viewer of this post should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this post (including the merits and risks involved), and should consult his or her own advisors to determine the merits and risks of such investment. This blog /forum (http://www.karachistockexchange.com/)  or any of its affiliates shall not be in any way responsible for any loss or damage that may be arise to any person from any inadvertent error in the information contained in this post.

Written by: Rana Khuram

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